Sunday, Jun 15, 2008
The Bricks Chick suprema hits again
TimesRosieMillard: It's a good time to be a buy-to-let landlord
"it is not a good time to sell a house, a lot of people are not doing so. They are staying put and hoping the downturn will blow over (which, in due course, it will). So, because nobody is selling much, there is a growing volume of people who want to buy, but can’t. In the meantime, because they need to live somewhere, they are renting. There’s a second group - whom I rather disparagingly described as vultures in my column last week - beady-eyed purchasers who hope to get a bargain if they hang around for long enough. These people are also renting. Then there are those who are in the rental market, because renting suits them or because they can’t afford to buy. Yet. Meaning what, dear reader? It is a jolly good time to be a buy-to-let landlord"
25 Comments
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1. confused76 said...
"Oh, I do so hate to irritate people over their marmalade, but I must tell you that, at the moment, there is quite a lot of smug satisfaction in the rental business: not among the Johnny-come-latelies who bought at the peak of the market last summer, but on the part of the hardy old-timers who started building portfolios several years ago"
you sure? you BTL i@iots look like the folks left holding shares in .com companies when the music stopped in 2001.
MAU AHAH HAHHAAHAHAHHAHAHH HAHAHHAHHH HAHAHAHH HAHAHAH
MAU AHAH HAHHAAHAHAHHAHAHH HAHAHHAHHH HAHAHAHH HAHAHAH
MAU AHAH HAHHAAHAHAHHAHAHH HAHAHHAHHH HAHAHAHH HAHAHAH
MAU AHAH HAHHAAHAHAHHAHAHH HAHAHHAHHH HAHAHAHH HAHAHAH
MAU AHAH HAHHAAHAHAHHAHAHH HAHAHHAHHH HAHAHAHH HAHAHAH
2. whiteknight said...
To rent you need something called money. Where is the money coming from again???
3. This comment has been removed as it was found to be in breach of our Blog Policies.
4. whiteknight said...
The money to cover the monthly mortgages on those properties at the price they were bought i mean.
Won't buy or can't buy at the moment doesn't equate to (!=) able to rent at the moment.
5. whiteknight said...
Wait until this mother of a situation really gets warmed up.
I love statements such as will "blow over" . Will blow over like nuclear winter that is and in about the same timescale.
6. confused76 said...
"house-price collapse (which they cleverly forecast three years ago) happened and how buy-to-let (which they always sniffed at) is a rightful casualty"
MWAU AHHA HAHHA HAH HHAHHHAHH HAH AHA HHHAH AHH
you bet it was clever to forecast the house price collapse
but of course BTL is different, it is all different this time
good luck to mr millard and his flat in Islington, good luck to Rosie and her Euro-denominated loan to purchase the flat in Paris
AHH HAHHAHHAHA H HAH AHH AH
I am soooooooooooooooooooooooooooooo grateful to the BTL brigade for having made the crash of 2008/10 sooooooooooooooooo deeper and more entertaining to watch... and of course for providing subsidized accomodation in West London.
Thank you forever!
7. Novice Pete said...
Rosie Millard = prime Guillotine material.
8. hpwatcher said...
but of course BTL is different, it is all different this time
Yes, of course it's different this time.....it's more like the 1930's.
9. Ash4781 said...
"And, naturally, because they are businessmen and women, not helpers in an Oxfam shop, they are putting up the rent. Because, when sales are down, rents go up.
Case study No 1: my friend Jody...
Case study No 2: Mr Millard...
"
I can't stop laughing!
10. Dave Spart said...
I'd rather be serving a stretch in Shawshank or Guantanamo than renting a BTL - as long as Rosie Millard wasn't a fellow inmate.
11. Dave Spart said...
What Dozy Dullard and other numpty BTLers like her need to realize is there are murmurings the big developers are thinking of renting out their unsold homes.
And this on top of the collapse in the flats market!
12. Mmeg said...
This is an interesting article as it indicates that BTL is still in the denial phase. This will only have one consequence.... prices will crash even harder when they wake up to the reality of was in happening in the market.
Let me review:
Mortgage rates are higher than the base rate (plenty of mortgage reset shocks)
There is rising unemployment.
Falling number of immigrants (people are not going to come to the uk to work has the pound devalues and if there is no work).
More choice of rental property than ever before. My rent hasn’t moved for 3 years and there is still plenty of rental accommodation now at the same price.
The BLT market is desperate to make out that things are still rosy … they are but this time for first time buyers. Now is the time we squeeze them.... be prepared to move if your landlord tries to up your rent there are plenty of bargains so go get them, move to a different area with plenty of new build flats , oh and use the deposit to pay the last months rent.
13. confused76 said...
As per a previous post...
Sellers beat the slump by renting homes
http://www.guardian.co.uk/money/2008/jun/15/houseprices.property
Supply supply supply supply supply supply supply supply supply supply supply supply supply
supply supply supply supply supply supply supply supply supply supply supply supply supply supply
supply supply supply supply supply supply supply supply supply supply supply supply supply supply supply
supply supply supply supply supply supply supply supply supply supply supply supply supply supply supply
just as it happened in central london in 2003/04... happy slump!
14. confused76 said...
she said she did not like vultures
It’s eviction time
Can investors profit from the rise in repossessions, asks Rosie Millard
http://property.timesonline.co.uk/tol/life_and_style/property/investment/article1352721.ece
but she concludes:
"“Landlords will still be squeezed by rising borrowing costs, even though rents have gone up over the past year at the fastest pace for four years,” says Gilmartin. “But with an expected 7% rise in property values, they will focus on their expected capital gain.”
7%? sure! AH AHHAHHAH H HAHAHHAHA HAHHA HAHAH
15. converted lurker said...
Rosie is deranged, isn't her husband that vain glorious gobshite (McIntyre or something) ,who does (did) undercover exposes on criminal/football gangs then realised he'd run out of stories and couldn't do them anymore' cos he couldn't be undercover anymore? Doh!! Ironic parallels?
16. japanese uncle said...
Am I the only person to see some insanity in her eyes? Must be really desperate situation.
17. last_days_of_disco said...
She is like some tragic character in some Dickensian novel "Bleak House" anyone?
Just watched the 2005 remake of Bleak House for the BBC. A vision of London soon to be returning. It was really really good and so apt a preparation
for what is going to be happening in Britain when the socialist state starts to really default on all their promises of free everything.
"Lady" Rosie Millard may yet be walking the streets a fallen Lady, half crazed recalling the glory days.
She still hates us "beedy eyed" vultures. MWAHAHAHA.
Obviously Mr Smallweed has been round to ask her when she will be gracing her with a payment on her debt that he has bought on the cheap.
Shake me up Ruby, shake me up, Oh my bones...
18. Ijjhall said...
Millard is representative of a fanatical BTL landlord who are by nature blind optimists/gamblers...no matter what carnage is going on around them they are different and will see it through. I guess its a certain personality type, in better times they call themselves 'winners' with a straight face after reading all the self help books that prompted them to reach for the stars in the first place. Don't expect them to respond to reason...
19. jimmy_joe said...
"isn't her husband that vain glorious gobshite (McIntyre or something)"
Indeed he is. Well you learn something new every day!
http://macintyre.com/content/view/534/105/
20. it_is_going_with_a_bang said...
"This is not a great bad-news story, but it is, at least, an honest account of what’s happening. I’m sorry if this missive from the front annoys some readers out there. It’s actually the pessimistic property anoraks in the press that I’m hoping to rile."
lol. how amusing. The article is actually intended as a mouthpiece to shout at people that she it right afterall.
"pessimestic property anoraks" lol
she is hating every minute of this. It makes it all the more entertaining.
21. Davros said...
Whatever.
22. Letsgetreadytotumble said...
I'm suprised that more people on this site don't leave comments on the newspapers page. I do. Just trying to spread the gospel.
23. Arseburger said...
@jimmy_joe
Read the article closely, her husband is Phillip Clothier. Whether he is vainglorious or a gobshite is not proven. That he is up a certain creek with only wife's Gucci handbag to paddle with is fact.
24. Tara747 said...
Actually, Donal McIntyre is not her husband - the article just appeared on his website. Her husband goes by the name of Pip. Pip and Rosie, sounds like a children's TV show!! Hahahahahaha
(divorce beckons imho if the HPC gets any worse, which of course it will)
p.s. I think Mr McIntyre is quite good looking, in spite of his silly programmes... :)
25. letthemfall said...
"vultures in my column last week..."
Rather an approprite metaphor for a bird brain.